Investment adviser Appian Capital Advisory has announced the launch of a $1-billion fund targeting critical minerals and mining projects in emerging markets.

The fund – launched in partnership with the International Finance Corporation (IFC), a member of the World Bank Group – aims to support responsible, high-impact mining projects critical to energy, industry and digital technologies.

The IFC will anchor the fund with an initial contribution of $100-million, while additional capital will be mobilised through the IFC Asset Management Company.

Managed by Appian, the fund will invest alongside Appian’s existing and future funds, targeting equity, credit and royalty investments across metals, mining and adjacent sectors. All investments will be required to meet the IFC’s environmental, social and governance (ESG) standards and rigorous performance criteria.

“The IFC has entrusted Appian with the management of this landmark fund. This is a strong endorsement of our ability to identify and responsibly develop high-quality assets, unlocking long-term value for our partners.

“It also underscores the vital role mining can play in driving sustainable economic growth and delivering lasting benefits for local communities, particularly in regions where development needs are most pressing.

“Management teams supported by the fund will now be backed by two . . . institutions in our industry. We look forward to advancing this partnership to accelerate responsible and sustainable resource development globally,” Appian founder and CEO Michael W Scherb said.

The fund’s first investment is in Atlantic Nickel’s Santa Rita project in Bahia, Brazil, which is transitioning to underground production. The mine, wholly-owned by Atlantic Nickel, an Appian affiliate, is expected to produce about 30 000 t/y of nickel-equivalent and has a projected mine life exceeding 30 years.

The IFC will invest on the same terms as other investors, following independent valuations by Citi and Standard Chartered.

This fund represents the IFC’s first collaboration with a private equity investor specialising in mining and is the first dedicated mining fund focused exclusively on emerging markets. It will finance mineral development projects across all stages, including construction, production and expansion.

Appian management teams will have access to the company’s technical and financial expertise, while sustainability specialists from the IFC and the World Bank will provide support in ESG, community development and stakeholder engagement.

“Minerals are essential for building industries, creating jobs and driving economic growth. Partnering with companies like Appian will help bring more private capital to places that need it the most, expanding access to critical resources and helping local communities benefit from the development of their mineral wealth,” IFC MD Makhtar Diop said.

The fund builds on a ten-year investment relationship between the IFC and Appian, which has previously collaborated on rare earth and gold projects in Africa, resulting in successful mine developments.

Appian currently manages about $5-billion in assets and has brought 12 mining projects into production since 2016, surpassing the output of the five largest international mining companies over the same period.

By focusing on emerging markets, particularly in Africa and Latin America, the fund seeks to generate financial returns while contributing to development impact, job creation and improved community outcomes.

Its establishment illustrates the growing importance of critical minerals and metals in supporting economic growth, the energy transition and digital innovation globally.